London, October 16, 2025, (Oilandgaspress) –––The world needs more investment in oil and gas as they will continue to account for a large part of the global energy mix in 2050, OPEC Secretary General Haitham Al Ghais said on Wednesday, reiterating the cartel’s view that investment in new supply will be needed in the foreseeable future.
Earlier this year, OPEC said in its annual World Oil Outlook (WOO) that oil demand is set to continue rising through 2050, with consumption expected at 123 million barrels per day (bpd) then, up from about 104 million bpd this year.
The world needs global oil industry investment of $18.2 trillion out to 2050, Al Ghais wrote. Read More
China unveiled a three-year action plan on Wednesday to improve its electric vehicle (EV) charging infrastructure, as part of its broader efforts to boost consumer confidence and accelerate EV adoption nationwide. Read More
Octopus Energy’s German renewables developer Energiequelle have teamed up to launch OQTO-X – a new joint venture aimed at cutting energy costs and emissions for businesses across Europe.
OQTO-X will support commercial and industrial businesses (C&I) across Germany, Austria, Poland, and the Czech Republic by planning and installing solar panels and large-scale batteries, overseeing financing, and helping them efficiently manage the generated energy.
The business aims to invest €200 million (£173m) by 2030 through Octopus’s landmark‘ Sky fund (ORI SCsp), helping to slash industrial carbon emissions and energy costs.
Germany, home to energy-intensive sectors such as chemicals, metals, and steel, ranks among Europe’s top industrial greenhouse gas emitters – with industry accounting for roughly 24% of the country’s total emissions in 2024*.
With over 1.7 GW of clean energy projects across the globe, Energiequelle is one of Germany’s driving forces in the renewables sector.
This marks Octopus Energy’s 10th investment in German renewables in three years, and a major step toward its target of channelling €1 billion into the country’s Energiewende. It now manages over 3.3 GW of solar and wind projects across Germany.
OQTO-X is Octopus’s latest investment in the European C&I sector, building on successful energy deals in the UK, Ireland, Italy, Portugal and Spain.
Germany is Octopus’s second-biggest market after the UK. The company recently reached a major milestone, powering 1 million German homes – the first country outside the UK where Octopus has achieved this feat. Read More
KBR announced it has been awarded a cost-plus-incentive-fee task order by the United States Space Force (USSF), building on the work under the previously awarded Advanced Solutions for Collaborative Engineering and Digital Development (ASCEND2) contract. The Design Implementation for Collaborative Environment (DICE) task order will focus on establishing a state-of-the-art testing and training environment for the USSF in Colorado Springs, Colorado, and will have a ceiling value of $98.7 million over a three-year period of performance.
This award authorizes KBR to deploy its Integration Accelerator, a groundbreaking collaborative digital engineering ecosystem designed to enhance decision-making and accelerate capability deployment. In addition, KBR will use the ASCEND2 Indefinite Delivery, Indefinite Quantity (IDIQ) contract vehicle to provide analytical and technical decision support aimed at advancing the methodologies, processes and outcomes associated with the acquisition and deployment of future Space Force integrated testing and training initiatives.
“This award marks a pivotal step forward in accelerating Space Force capabilities,” said Mark Kavanaugh, KBR’s President, Defense, Intel and Space. “Through the Integration Accelerator, we’re proud to deliver a collaborative digital engineering ecosystem that empowers smarter, faster and more resilient decision-making for future integrated testing and training.”
This win reinforces KBR’s position as a premier innovative partner to the U.S. government, advancing its strategy to deliver secure infrastructure, digital transformation and mission-critical support across defense and space domains. Read More
Production starts from Bacalhau, Equinor’s largest international field, On 15 October, at 22.56 Rio time, Equinor and its partners ExxonMobil Brasil, Petrogal Brasil (JV Galp|Sinopec) and Pré-sal Petróleo SA (PPSA) achieved start-up of production from the large Bacalhau field in Brazil. With recoverable reserves exceeding 1 billion barrels of oil equivalent (boe), Bacalhau is the largest international offshore field ever developed by Equinor. Bacalhau is located in the pre-salt region of Brazil’s Santos Basin in ultra-deep water exceeding 2,000 metres. The field features one of the most modern Floating Production Storage and Offloading vessels (FPSO) in the world, measuring 370 metres in length and 64 metres in width, with a production capacity of 220,000 barrels of oil per day (bpd)..
Phase 1 development consists of 19 wells, producers and injectors, which will be brought online in sequence as we ramp up and sustain production. Equinor will be positioned to provide an update in 2026 during the ramp-up phase. Read More
Centrica and National Gas have successfully completed a landmark trial, marking the first time hydrogen has been blended into the National Transmission System (NTS).
The trial took place last week [on 9 October] and involved National Gas injecting a 2% blend of green hydrogen into the gas grid, before being blended with natural gas to generate power at Centrica’s Brigg Power Station – producing electricity directly into the power grid. This ‘real life’ UK first test shows the end-to-end potential of Hydrogen to decarbonise critical energy infrastructure.
This key milestone means British power stations, particularly those that provide flexible backup electricity when demand is high or renewable generation is low, can successfully accept hydrogen blends into their operating units. The trial proves that blending is both technically and operationally viable, offering a practical solution to support the UK’s mission for Clean Power by 2030. Read More .
Iraq’s Ministry of Oil received a delegation from UAE’s ADNOC , headed by Mr. Nasser Mohammed Al Ameri, Executive Vice President for Business Management, Gas Processing, Refining, and Petrochemicals. Discussions focused on strengthening cooperation and exploring investment opportunities in Iraq’s oil and gas sector. The Undersecretary highlighted Iraq’s attractive investment environment, supported by political stability and growing regional and international relations, creating new prospects for partnership with reputable global and regional companies.
The ADNOC delegation expressed the company’s interest in expanding cooperation with Iraq’s Ministry of Oil, including participation in development projects across exploration, production, refining, and petrochemicals. Read More
| Oil and Gas Blends | Units | Oil Price | Change |
| Crude Oil (WTI) | USD/bbl | $58.48 | Down |
| Crude Oil (Brent) | USD/bbl | $62.12 | Down |
| Bonny Light 09/10/25 CBN | USD/bbl | $68.99 | — |
| Dubai | USD/bbl | $63.81 | Down |
| Natural Gas | USD/MMBtu | $3.02 | Up |
| Murban | USD/bbl | $63.99 | Up |
| OPEC basket 15/10/25OPEC | USD/bbl | $63.07 | Up |
| At press time October 16, 2025 . |
More Energy, Oil & Gas Stories !!! �The squeaky wheel gets the oil�
OilandGasPress Energy Newsbites and Analysis Roundup | Compiled by: OGP Staff, Victor Cole , victor@oilandgaspress
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